Posted: 22 Sep 2011 11:57 AM PDT
It has accepted an application from a developer after receiving a committed minimum bid of S$98 million.
URA said as the minimum price committed for the site is acceptable to the government, it is releasing the Reserve List site for sale by tender.
The land parcel is located at the junction of Alexandra Road and Jalan Bukit Merah and was first put on the Government Land Sales Programme Reserve List four years ago.
The 99-year leasehold land has a site area of about 7,950 square metres and a maximum permissible gross floor area of about 22,250 square metres.
It is linked to the rest of the island via Ayer Rajah Expressway and is served by the nearby Queenstown and Redhill MRT stations.
URA will launch the public tender for the site in about two weeks, and the tender period will be about eight weeks.
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Posted: 28 Sep 2011 04:02 AM PDT
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